PT Pefindo Biro Kredit (IdScore) announced that Indonesia's national credit industry is demonstrating remarkable resilience amid increasing geopolitical pressures, particularly due to the ongoing conflict between the United States and Iran. This statement was made during a media gathering in Jakarta, where the company's CEO, Tan Glant Saputra Hadi, emphasized that national loan growth remains positive despite challenges faced by some sectors.
According to reports, the total national loans reached approximately 9,938.2 trillion rupiah by February 2026, with an annual growth rate of 9.6%. Despite this, the non-performing loan (NPL Gross) ratio remains under control at 2.85%, reflecting relative stability in the market.
Event Details
Tan pointed out that there is increasing pressure on consumer sectors and low-income borrowers, particularly due to declining purchasing power and rising borrowing costs resulting from global instability. He also highlighted the rapid growth of Buy Now Pay Later (BNPL) services in Indonesia, where total loans in this sector reached 56.3 trillion rupiah, showing an astonishing annual growth rate of 86.7%.
However, the non-performing loan ratio in BNPL services remains high, reaching about 5%, necessitating the reinforcement of responsible lending principles and improved financial data utilization.
Background & Context
Historically, Indonesia has witnessed significant transformations in its financial sector, with financial services evolving remarkably over the past two decades. However, geopolitical challenges such as trade wars and regional conflicts directly impact the Indonesian economy, compelling financial institutions to adapt to these changing conditions.
New regulations, such as the Personal Data Protection Law (UU PDP), represent an important step towards enhancing transparency and security in the financial sector, but their implementation requires a delicate balance to avoid any negative effects on the flow of financial information.
Impact & Consequences
External challenges such as rising global interest rates and trade disputes underscore the importance of local economic stability. Additionally, the depreciation of the Indonesian rupiah, which has surpassed 17,000 rupiah against the US dollar, contributes to increased borrowing costs, adversely affecting individuals and businesses.
Experts predict that national loan growth will continue within the range of 10-11% in 2026, provided economic stability is maintained. Meanwhile, BNPL services are expected to enter a phase of balance following increased regulatory oversight.
Regional Significance
Indonesia is one of the largest economies in Southeast Asia, and any changes in its financial policies could impact regional markets. The growth in BNPL services could serve as a model for Arab countries, where there is an increasing need for flexible financing solutions.
In conclusion, the stability of Indonesia's credit industry is a positive indicator amid volatile global conditions, reflecting the economy's ability to adapt to new challenges.